Friday 1st May 2026
Daily Market Update: 1 May 2026
ASX pressured by oil surge and consumer weakness
The S&P/ASX 200 Index (ASX: XJO) fell 21.20 points, or 0.2 per cent, to 8665.80, extending its sell-off to an eighth session as oil surged above $US126 a barrel amid renewed Iran war concerns. Consumer staples led losses after Woolworths Group Limited (ASX: WOW) warned rising fuel costs could weigh on earnings, sending its shares down 7.8 per cent, while Coles Group Limited (ASX: COL) fell 3.6 per cent.
Mixed sector moves as earnings updates drive stocks
Gold miners weakened, with Newmont Corporation (ASX: NEM) down 2.1 per cent and Evolution Mining Limited (ASX: EVN) losing 5.3 per cent, while Mineral Resources Limited (ASX: MIN) rose 3 per cent after upgrading production guidance. WiseTech Global Limited (ASX: WTC), NextDC Limited (ASX: NXT), ANZ Group Holdings Limited (ASX: ANZ) and Commonwealth Bank of Australia (ASX: CBA) gained, while South32 Limited (ASX: S32), ASX Limited (ASX: ASX), Regis Healthcare Limited (ASX: REG) and Liontown Resources Limited (ASX: LTR) moved on corporate updates.
US markets rally on earnings despite inflation and oil concerns
US equities rose as earnings strength offset oil supply concerns, with the S&P 500 Index (NYSE: SPX) up 1 per cent to 7209, the Nasdaq Composite Index (NASDAQ: IXIC) rising 0.9 per cent to 27,430 and the Dow Jones Industrial Average (NYSE: DJI) surging 790 points. Caterpillar Inc. (NYSE: CAT) jumped 9.8 per cent, Alphabet Inc. (NASDAQ: GOOGL) rose 10 per cent, Eli Lilly and Company (NYSE: LLY) gained nearly 10 per cent, while Meta Platforms Inc. (NASDAQ: META) and Microsoft Corporation (NASDAQ: MSFT) fell on AI spending concerns; Apple Inc. (NASDAQ: AAPL) later reported stronger-than-expected earnings.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | -0.2 | -1.4 | 2.4 | -1.2 | 9.8 |
| Financials | 0.8 | -0.7 | 2.1 | 4.2 | 11.2 |
| Resources | -2.0 | -1.3 | 4.8 | 5.2 | 56.3 |
| Information Technology | -0.3 | -3.2 | 11.7 | -11.3 | -23.0 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | 1.0 | 0.7 | 10.1 | 1.1 | 29.5 |
| Europe | -1.2 | -1.5 | 2.1 | -4.0 | 7.3 |
| Japan | -0.7 | 1.2 | 2.7 | 0.9 | 15.8 |
| China top 50 | -0.8 | 0.6 | 0.7 | -9.6 | -0.7 |
| India top 50 | -2.6 | -0.2 | 3.0 | -8.2 | -20.2 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | -0.5 | -0.3 | 0.3 | -0.5 | -1.0 |
| Australian Corporate Bond | -0.3 | -0.3 | 0.5 | -0.5 | -0.2 |
| US Treasury | -0.5 | -0.4 | 0.2 | 0.0 | 2.1 |
| Cash | 0.0 | 0.1 | 0.4 | 1.0 | 3.8 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | 0.1 | -3.9 | -4.2 | -11.0 | 25.3 |
| Silver | -1.1 | -2.1 | -1.3 | -30.9 | 101.5 |
| Crude Oil | 9.7 | 11.6 | 11.9 | 82.5 | 121.0 |
| Bitcoin | -1.5 | -2.3 | 8.0 | -10.2 | -30.4 |
